A blog for sharing of information and for a healthy discussion on Bank employees issues!!
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Dear reader!

Wednesday, September 30, 2015

LIC employees wage revision talks Update:Tuesday, September 29, 2015Unions' meeting concludesThe meeting of Joint Forum of unions in LIC met today the 29th of September 2015 at Pune and decided the following programme of action to realise satisfactory wage revision and one more option for pension:1) Lunch hour demonstrations 6th and 13th October, 2015. 2) ONE DAY STRIKE ON 14 th October, 2015. 3) Lunch hour demonstrations on 16th & 18th November, 2015.4) TWO DAYS strike on 19th and 20th November 2015.Please note that the earlier call of no work after office hours continues.******************************************************Their wage revision was due from 01.08.2012.It is more than 38 months!Bank Union will now say that we are better than LIC!!

Tuesday, September 29, 2015

Mumbai: Reserve Bank of India (RBI) governor, Raghuram Rajan, has often invited criticism in the past for his blunt comments on politically sensitive topics such as Prime Minister Narendra Modi's 'Make in India initiative' and theNDA government's rocket-speed implementation of financial inclusion programmes using state-run banks.

This time, the former chief economist of International Monetary Fund (IMF)has raised another issue of critical importance in the Governor’s overviewsection of RBI’s 2014-15 annual report. The issue pertains to how publicsector banks (PSBs) are forced to undertake government’s financial inclusionprogrammes, such as the Prime Minister's Jan Dhan Yojana, without gettingfully compensated for their losses.

"We should recognise that PSBs undertake public interest activities (like theroll out of accounts under the Pradhan Mantri Jan Dhan Yojana) that are notalways fully compensated," Rajan said.

Monday, September 28, 2015

Microlending: Jaitley may be making a mistake by putting PSBs on mission mode; it can backfire!

Finance minister Arun Jaitley has set an ambitious target of Rs 1.22 lakh crore for public sector banks (PSBs) to lend to micro and small businesses under the Pradhan Mantri Mudra Yojana (PMMY) by March 2016. Following this, state-run banks have begun credit campaigns to distribute loans pan-India.

No doubt, India’s small entrepreneurs and start-ups need urgent financial assistance. But by putting banks on a mission mode to fulfil this target in a short period, the government is piling up pressure on them and it can lead to serious credit assessment problems.

There is also a danger of the actual needy customer being ignored in the process and funds being misdirected to the wrong beneficiaries. In six months, commercial banks do not have the time to lend to put in place the systems and process to deal with such loans. Banks will, thus, be forced to randomly push money, which can add to their existing pile of non-performing assets (NPAs).

Wednesday, September 23, 2015

IBA has released a Clarification circular on 6th, 7th, 8th Stagnation Increments on 19.09.2015This the Second clarification circular (earlier one is dt.16.06.2015) on the above subject.Note: it is a clarification circular only.There is no change in the provisions already signed.**************************************************https://play.google.com/store/apps/details?id=com.wIndianBankkumarhttps://www.facebook.com/indianbankkumar

Tuesday, September 22, 2015

Punjab and Sind Bank (Public Sector Bank)-Delhi: Harassment: Bank Open on 4th Saturday 26 - Sept- 2015Hi,I am a Punjab and Sind Bank employee.Bank Management always force us to open Branch on Sunday or any long holiday to achieve targets. And always Zonal and Head office remain closed on holidays.Management has sent an email to all Branches to open on 26- Sept- 2015 i.e. 4 Saturday is holidayWe are also human being, we also need holidays to look after and take care of our family.Request you to kindly look into this issue?As per X Bapartite IBA and Indian Govt has declared that 2 and 4 Saturday of the month will be holiday.Yours(Name avoided)***********************""**********

Friday, September 18, 2015

It is time for Indian bureaucrats to remember school. Or rather,
that cold and terrible sweat before exam results.

The performance of those who have either completed 30 years in
service or reach 50 years of age, whichever comes earlier, will be reviewed,
according to a recent Department of Personnel and Training (DoPT) order. Those
who get negative reviews will be given a three-month notice to retire.

The DoPT, headed by PM Narendra Modi, has decided to let go of
non-performing officers and those with suspect integrity by giving them
compulsory premature retirement.

Whenever the services of a public servant are no longer useful
to the general administration, the officer can be compulsorily retired for the
sake of public interest, said the DoPT circular. For better administration, it
is necessary to chop off the dead wood.

The relationship of the NDA government with its employees has
seen ups and downs. This is not the first time that the government has sighted
rules to ensure transparency. Earlier, the government had amended the All India
Service (conduct) Rules, 1968, to include a 19-point guideline for bureaucrats
which mandates that they maintain 'political neutrality' and 'take decisions
solely in public interest', among other clauses.

Detailed instructions have been issued for reviewing the
quarterly performance of officers. The DoPT cited various Supreme Court
observations for assessment of such cases. On integrity, the circular quoted
the SC: "The officer would live by reputation built around him. In an
appropriate case, there may not be sufficient evidence to take punitive
disciplinary action of removal from service. But his conduct and reputation is
such that his continuance would be a menace to public service and injurious to
public interest."

Wednesday, September 16, 2015

The small finance bank will primarily undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.

Those who want to fully understand E.V. Ramasamy
@ Thanthai Periyar
(17.09.1879 to 24.12.1973) may read
this article.

137th Birth Day!

About
Myself

I express,
plainly and openly, thoughts which occur to me, and which strike me as
right. This may embarrass a few; to some this may be distasteful; and a
few others may even be irritated; however, all that I utter are proven truths
and not lies.

Not that all the
people of the world should act according to my wish, but that come what
may, surely in politics and in public life, human justice alone not
justice as prescribed by any epoch or religion. Should be imposed; such is
my desire.

As far as I am
concerned, I was never a party man. I have always been a man of
principles.

Till the end of my
life, I shall never canvas for a vote. I shall not even expect a word of
praise from any quarter.

I am under no
necessity to permanently support anyone for gaining selfish ends. I see no
wrong at all in supporting that person who does good to us, Who strives
for the removal of our social degradation even if he is a foreigner.

Decide for
yourselves as to what you should thing of those who say there is God, that
He is a the Preserver of Justice and that He is the Protector of All, even
after seeing that the practice of Untouchablity in the form of man being
banned from human sight and contact, from walking into the streets, from
entering the temples and drawing water from a tank, is rampant in the land
and yet that land is spared from being razed by an earthquake, burnt by
the fiery lava of a volcano, engulfed in a deluge from the ocean,
submerged in the chasm of the earth, or fragmented by thunder-storm.

Why is it
that a foreigner is required to find out the height of Himalays, while we
claim to have discovered the Seven Worlds, above and the Seven more below;
why is that when we claim to have the ability expound Lord Nataraja's
Cosmic Dance, the construction of this simple loud speaker in front of us
is an enigma; we should really contemplate on these aspects. You should
come forward to use reason to enlarge your general knowledge.

Man is
considered superior to other beings in this world, because he has
limitless capacity for knowledge; People in other lands have advanced
greatly, utilizing this knowledge. But our countrymen owing to lack of use
of this knowledge are abjectly deteriorating. Stating that ours is a land
of enlightenment, we build tanks and temples; in other lands, men fly in space
and amaze the whole world.

What we
need today is growth of knowledge, in order to advance in every field.
Knowledge should have its sway.

It is
through rationality that man's longevity has been increased and his
mortality has been significantly reduced.

Sunday, September 13, 2015

I have created an android App. for my Blog " Indian Bank kumar".(An amature attempt)It is free.Available at Google Play Store.Pl download in your smartphone ,read and post your comment to me.For various heads like service condition, welfare measure,Leave rules etc.,press "Home" button in the app.Navigation:Go to Google PlayStore=>application=>search=>type " Indian Bank kumar"=>download

Which Banks deviated?
What are the deviation?
Whether calling for option from Retirees a deviation?
No clarity.

AIBEA/GS/2015/58 Date. 11-9-2015

Chief Executive,
Indian Banks’ Association
Mumbai

Dear Sir,

Reg: Revised Scheme for reimbursement of hospitalisation expenses

You are aware that in response to our demand for 100% reimbursement of hospitalisation expenses, after a lot of serious deliberations and discussions, a revised scheme has been put in place in the recent 10th Bipartite Settlement dated 25-5-2015.

The details of the Scheme are narrated under Schedule IV of the Settlement. The Scheme to be worked out between IBA/Banks and Insurance companies are also provided as Appendix I and II.

Besides various details of coverage and entitlements under the scheme, the Scheme provides for coverage of Rs. 3 lacs and Rs. 4 lacs + Rs. 100 as Corporate Buffer which means that claims beyond Rs. 3 lacs and Rs. 4 lacs would be entertained upto and within the Corporate Buffer.

Wednesday, September 9, 2015

What is available cheap in India?It is “Cheap Labour”. “Haves exploiting have-nots”*******************Entry-level salaries in India are amongst the lowest in the Asia Pacific region, a study by professional services firm Towers Watson says. The average monthly starting pay in India is around $400 (Rs 24,000), less than one-fifth of the equivalent paid in South Korea and Singapore, said the study by Towers Watson's Data Services. Graduate Indian employees sit towards the bottom of the Asia Pacific countries in terms of starting salary, it said, adding that it augurs well for the 'Make in India' campaign as this would give the MNCs a competitive advantage over other Asia-Pac countries. "Although dependent on prevailing exchange rates, the findings clearly highlight India's position as a competitive and attractive workforce and talent market," said Sambhav Rakyan, Data Services Practice Leader, Asia Pacific at Towers Watson. Out of the top 11 Asia Pacific economies, the average monthly Indian starting salary was ranked ninth. "The disparity in salaries also illustrates how a large knowledge pool and a significant cost arbitrage makes India a front runner in providing outsourced services. After achieving great success in IT/BPO, India can now become a natural choice for other sectors, like manufacturing," he added. Further up the ladder, wages for experienced professionals at middle management levels in India are slightly more competitive, but still below their Asia Pacific peers. Notwithstanding the recent push in its manufacturing sector and popularity of the IT sector, an engineering manager in India earns an average salary of USD 56,530 -- almost half of his Chinese counterpart (USD 112,070) and one-third of his Singaporean counterpart (USD 151,168), the report said.

Sunday, September 6, 2015

One
Rank One Pension’ basically means that retired soldiers of the same rank, who
have retired after serving for the same length of service, will receive the
same pension, irrespective of the date/year of their retirement.

A Pay Commission sits every 10 years and gives recommendations for enhancing
the pay and allowances of the serving personnel based on the various factors
like inflation, price hikes, and increase in living expenditures to meet the
explicit needs of the lifestyle befitting the stature of a defence officer,
etc.

Pension of the officers superannuating is based on the last salary drawn by
them at the time of retirement.

Hence, with each consecutive Pay Commission, the military veterans who retired
earlier received lesser pension as compared to those who retired later with the
same rank and length of service.

Currently, all pre-2006 (the year the 6th pay panel report became effective)
pensioners receive lesser pension than not only their counterparts but also
their juniors.

Friday, September 4, 2015

PRESS RELEASE:

CENTRAL TRADE UNIONS CONGRATULATE THE WORKERS FOR UNPRECEDENTED STRIKE ON 2ND SEPTEMBER

It has been an unprecedented strike of millions of workers at the call of Central Trade Unions. Response has been as never before. It is the biggest strike ever in the country.This strike has been called by 10 Central Trade Unions. It has been supported by thousands of local unions, unaffiliated associations and federations. It is the largest unity of the trade unions that has done miracle. All sectors of the economy are affected.The strike received the all-out support of the people. The strike call was given against Govt.negative response to 12 point charter, the main among these being the aggressive stepsbeing taken by the Govt. to amend labour laws in favour of corporates.We congratulate and salute the gallant workers for their magnificent response. We expect Govt. to take lesson and take steps to ameliorate the grievances of the workingmasses. It must restart discussions with Central Trade Unions for concrete solution to the demands failing which the struggle will be intensified.This strike has been so spread because of the growing discontentment among working people against anti-worker policies of the government. It is also a protest against foodprice rise and failure of the government to contain the slow-down of the economy leading to heavy retrenchment and informalisation.The strike has been unprecedented in transport, Oil, Coal, Power, Bank, State Govt. employees, Insurance, Port & Dock, Defence, Postal, Telecom and automobile industries.Thousands of workers have been on street to make the strike as an excellent success.Delhi has also the impact of the strike.The Central Trade Unions condemn the police action and atrocities by hooligans on the peaceful agitation by the trade union cadres for this strike in West Bengal. It is a statebacked terrorism. We believe all the right thinking people of the country unitedly protest against the atrocities committed on the trade union cadres of West Bengal.Despite the terrorism sponsored by the state, the undaunted trade union activists have made the strike a success. We greet them.There has also been lathi charge in different parts of the country. There have also been cases of intimidation by the police and arrest of workers. In some states, despite imposing ESMA, workers have moved forward undaunted to make this strike a grandsuccess.The Central Trade Unions condemn the reckless police action.

Statewise and sectorwise details are given as hereunder:

SECTORALRoad Transport

In almost all the states workers of State Road Undertakings went on strike. Even Privateroad transport like autos and taxis are off the road. Roadways buses in Haryana, Delhi,Uttarkahand, Himachal, UP and other states are also off the road. Magnificent strike oftransport workers affected the normal life of the people for which CTUs are sorry.

DefenceDefence production has come to a standstill. Nearly half a million ordnance factory andinstallation workers throughout the country observed today’s strike.

Banks & InsuranceStrike is 100% in financial sector. More than two millions workers both in public sectorand private sector financial institutions went on strike.

CoalComplete strike in coal mines. Even BMS workers joined the strike.

Non-CoalMines like in Iron Ore, bauxite, copper, aluminum and others was complete. Theresponse was tremendous.

Steel SectorThe strike has been complete in most of the places in steel sector including first timestrike in Bhilai plant.

PostalThe strike has been complete in postal department. Most of the States withworkers/employees holding protest dharna/meetings outside the offices.

Oil SectorThe strike in oil sector was complete in almost all parts of the country. Supply of Aviationfuel to Airlines was affected leading to cancellation of some flights. LPG plants werecompleted closed in all parts of the country affecting gas supply.

TelecomNearly complete strike in BSNL throughout the country. Even BMS workers joined strikein BSNL.

Electricity / Power SectorThe Strike was almost complete in most of the states in power sector.Tea Gardens in Eastern India and south India were totally on strike.

POSITION IN STATESThe strike was total in the states of Kerala, Assam, Goa, Telangana, Pondicherry,Rajasthan, Himachal Pradesh, Odisha, Manipur, Uttrakhand, Bihar, Chhatisgarh, andJharkahand, as also most all the sectors of Gov. and Public sector as well as Industrialareas were on strike. Several of these states even traders closed down their business andshops and so it became band like situation.The strike was massive in the states of Punjab, Haryana, West Bengal, Madhya Pradesh,Uttar Pradesh, Andhra Pradesh, Tamilnadu, Delhi & Meghalaya where some of thesectors were on hundred percent strike.It was heartening to note that some of the establishments and industries have gone onstrike after almost decades like in Bhillai, Iron Ore Mines, BHEL and some steel plants.Most of the Auto and Taxis went off the road in Delhi & NCR as well as in several townsand cities in India.Rail Roko also took place in several areas in various states.